Dave's Hot Chicken Acquired for $1B By Roark Capital | Entrepreneur

[ad_1] Dave's Sizzling Hen, which started in 2017, introduced on Monday that it was acquired by non-public fairness agency (and Subway proprietor) Roark Capital in a $1 billion deal.

The rooster store, which focuses on a scorching, Nashville-style of the fowl, expects to open 155 places this yr and finish 2025 with 400 eating places worldwide, in accordance with a press launch.

Not dangerous for a corporation that started with a bunch of childhood associates in an East Hollywood, California, parking zone.

Associated: 'It Was Like a Drug': How Dave's Sizzling Hen Grew a Cult Following From a Parking Lot

"This is without doubt one of the nice entrepreneurial journeys of our time, and now we start the subsequent chapter within the story," mentioned Invoice Phelps, Dave's Sizzling Hen's CEO, in a press launch. "Our total group is happy in regards to the match between Dave's Sizzling Hen and Roark, and we're trying ahead to persevering with to blow our visitors' minds and unlocking progress and worth for our franchise companions."

In line with knowledge from Placer.ai, "Massive Hen" is on the up, and Dave's Sizzling Hen was the chief of the flock, with the "most vital" year-over-year go to progress (67.2% in This fall 2024 and 60.0% in Q1 2025) of all of the rooster chains, together with Huey Magoo's, Tremendous Chix, and Elevating Cane's.

Dave Kopushyan, the "Dave" within the title, is without doubt one of the founders and the chef who started slinging the now-famous scorching rooster utilizing moveable fryers and folding tables. He instructed Entrepreneur in 2022 that the corporate's quick success is making them work even more durable.

"You simply should be current for all of it," Kopushyan mentioned. "And it's important to consider in your product and use that motivation to maintain going."

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In 2019, Dave's started franchising, and the corporate says it has offered the rights to greater than 1,000 places within the U.S., the Center East, and Canada.

Roark relies in Atlanta and focuses on franchised companies, per the AP. It bought Subway sandwiches in 2023 and backs a slew of restaurant chains, from Jimmy John's to Jamba Juice.

Dave's Sizzling Hen Sliders - Courtesy of Dave's Sizzling Hen

Dave's Sizzling Hen, which started in 2017, introduced on Monday that it was acquired by non-public fairness agency (and Subway proprietor) Roark Capital in a $1 billion deal.

The rooster store, which focuses on a scorching, Nashville-style of the fowl, expects to open 155 places this yr and finish 2025 with 400 eating places worldwide, in accordance with a press launch.